Hashdex announced, this Wednesday 08, the entry of Polkadot (DOT) in the NCI (Nasdaq Crypto Index), an index created by the company in collaboration with the American stock exchange Nasdaq. With the listing, the NCI now has 11 crypto assets.
The change also directly affects the HASH11 ETF, which replicates the NCI 100%. The product was the first cryptocurrency ETF launched in Brazil. It is currently the second B3 company in number of shareholders. HASH11 already has more than $200 million under management and more than 150,000 investors.
“Polkadot is a very promising project in the cryptocurrency market and a blockchain platform that is becoming more relevant every day and has new users,” says Roberta Antunes, Head of Growth at Hashdex.
The index follows with Bitcoin (70%) and Ethereum (26.93%) with greater representation in the composition. In addition to these two big projects, the NCI still owns the following assets: Litecoin, Chainlink, Bitcoin Cash, Polkadot, Axie Infinity, Uniswap, Stellar, Filecoin, and The Sandbox. Each of them with less than 1% in the composition.
Polkadot could go up to $14
As analyst Rakesh Upadhyay points out, Polkadot (DOT) has formed a symmetrical triangle, which often acts as a continuation pattern. The buyers are trying to push the price above the 20-day EMA ($10) and challenge the resistance line of the triangle.
He notes that a breakout and close above the triangle will be the first indication of a possible trend reversal. The DOT/USDT pair could rally to $12 and then attempt a rally to the $14 breakout level. The bears will probably defend that level aggressively.
- “Alternatively, if price falls from overhead resistance and breaks below the triangle, this will suggest that the bears are in control. The pair could drop to $8 and then retest the intraday low of May 12 at $7.30. dollars,” he concludes.
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